The Portuguese Golden Visa is soaring in 2022
Published at: 10/10/2022 12:15 pm
Of the 77 Golden Visas (ARIs) issued in Portugal, 64 were for real estate purchase (31 for urban rehabilitation) and 13 for capital transfers.
Until the end of August, the total number of successful applications for the resident status of the EU Member States reached 806 in 2022.
In the first eight months of 2022, 19 Chinese, ten Brazilian and another ten US applicants got their permits. Compared to the same period of last year (from January to August), the number of submitted applications increased by 34,7% and worth to note that the amount invested in Portugal's economy totalled €387,7 million.
According to the data from Portugal's SE (Immigration and Border Service), in 2022, more US citizens (19%) than Chinese nationals (16%) submitted their application for Portugal's Golden Visa. Meanwhile, two years after the introduction of the program, in 2014, more than 80% of the candidates arrived from China.
Perhaps not only the EU residency but also the beneficial taxation brings more attention to Portugal, even from the West. The NHR (non-habitual resident) tax incentive attracts digital nomads and wealthy investors from developed countries. Under this low-tax scheme, the residents' foreign sourced income can be tax exempt.
Another exciting development is that besides the traditional ARI (residency by investment program - Golden Visa), now the "Portugal Passive Income - D7 scheme" attracts retirees from third countries. To qualify for this visa, you must have a reasonable and regular passive income. However, there is a difference between residency by investment and passive income solutions. Holders of the D7 visa must spend more than six months per year in Portugal.
Are you a Non-EU, EEA or Swiss citizen and wish to live in beautiful Portugal? Ask here for a free consultation and let our experts help you to create the best structure and application for Portugal's Golden Visa!